The latest pop sensation is a rapper who goes by the name of PSY. Last week, his hit, ?Gangnam Style,? became the most viewed video ever on YouTube. He bumped Justin Bieber off his throne.

The latest pop sensation is a rapper who goes by the name of PSY. Last week, his hit, "Gangnam Style," became the most viewed video ever on YouTube. He bumped Justin Bieber off his throne.

As I write this, "Gangnam Style" has been seen more than 845 million times. It may soon become the first video with 1 billion viewings. In comparison, top-rated network shows like "The Voice" and "The X Factor" peak at about 10 million viewers.

The guy is singing almost entirely in Korean. The song is about living large in Gangnam - a small but wealthy district of Seoul. The video is shown online only - not on TV.

So how did "Gangnam Style" become so popular? In a word, disintermediation.

Word spread about the video through social networks. "Gangnam Style" has more than 5.5 million Facebook "likes." The video can be seen at any time, for no cost, on Google's YouTube service.

From a global perspective, there was very little in the way of traditional marketing for "Gangnam Style" - it made PSY famous without the help of traditional big-media companies. Because he became famous online, he's parlayed that popularity into the regular media, too.

YouTube and social networks are technologies that are dramatically changing how we experience entertainment. The artist can connect directly with the audience without going through conventional distribution channels. There is comparatively little cost and potentially huge rewards. There is always the danger of getting lost in the crowd, but if something has legs, it will run to the top of the charts all by itself - pushed there if needed by a global fan base and their smartphones more than their family's television.

I think PSY is also popular because he doesn't look much like a Hollywood "product." He's 35, not 18. He dances quite well, but looking at him you wouldn't think he could dance at all. He dresses like a metrosexual geek. Perhaps people think, "If he can do it, so can I." It's empowering.

Most of the "Gangnam Style" video is without meaning - just escapist nonsense presented in a humorous and self-effacing manner. Who knew that riding an invisible pony around would be so much fun? Not that there's anything wrong with that.